Cooper Industries says fourth-quarter outlook uncertain

SAN FRANCISCO (MarketWatch) -- Cooper Industries Ltd.
CBE, +0.00%
said late Friday it expects fourth-quarter results to be below the previous outlook of 83 cents to 92 cents a share, excluding restructuring charges. However, it did not provide more specific details on its fourth-quarter earnings. "In the near-term, we expect unprecedented volatility and are reducing production levels to ensure we manage inventory levels, while maintaining customer service. The volatility in commodity prices also is creating a difficult pricing environment in some of our businesses, which impacts margins in the near-term," said Chairman and Chief Executive Kirk Hachigian in a statement. Analysts surveyed by FactSet Research is projecting the company will earn 87 cents a share on average.

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